Myers Industries (NYSE:MYE) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Myers Industries (NYSE:MYE) announced its quarterly earnings results on Thursday. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09, Zacks reports. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%.

Myers Industries Stock Performance

Shares of Myers Industries stock traded up $2.40 on Thursday, reaching $12.14. 731,076 shares of the company were exchanged, compared to its average volume of 291,327. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The company’s 50-day moving average is $11.50 and its two-hundred day moving average is $12.37. The firm has a market cap of $452.49 million, a price-to-earnings ratio of 28.91 and a beta of 1.21. Myers Industries has a 1-year low of $9.32 and a 1-year high of $23.63.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

Insider Buying and Selling

In other Myers Industries news, CEO Dave Basque purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were bought at an average price of $12.41 per share, for a total transaction of $62,050.00. Following the purchase, the chief executive officer now directly owns 39,152 shares in the company, valued at $485,876.32. This trade represents a 14.64 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. KeyCorp downgraded shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th. StockNews.com lowered Myers Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th.

About Myers Industries

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.